LONDON--(BUSINESS WIRE)--Technavio
has announced the top five leading vendors in their recentglobal
music marketreport. This market research report also
lists 17 other prominent vendors that are expected to impact the market
during the forecast period.

Competitive vendor landscape

According to the research analysis, the global
music market is expected to grow at a CAGR of close to 9% during
the forecast period. The growth of the global music market is primarily
driven by the increasing adoption of digital
music worldwide. The growing number of subscription services and
concerts will lead to an inflow of revenue.

According to Ujjwal Doshi, a lead analyst at Technavio for publishing
and advertising research, “Live events across the globe are
experiencing an increase in attendance of audiences, thus, propelling
the growth of the global music market. Also, the increasing popularity
of nightlife regarding pubs and discos, where DJs
play music on a regular basis, has motivated individuals to become more
passionate about live performances.”

The global music market is highly competitive because of the presence of
numerous big players. Leading vendors with improved technological
innovations gain a competitive advantage in the global music market.
However, vendors deal with intense competition based on pricing, the
number of albums, streaming
music library, and artists. The major vendors in this market
include BMG Rights Management, Kobalt Music Group, Sony/ATV Music
Publishing, Universal Music Group, and Warner Music Group.

BMG Rights Management offers a digital service alternative to
artists, songwriters, and rights owners in the music industry. The
catalog includes more than one million music publishing copyrights and a
wide range of recordings of popular music. The company has long-term
contracts with artists and songwriters and owns thousands of copyrights.
It also offers a range of services, such as recording and
synchronization, that help songwriters and artists to optimize their
careers and income. The company supports recording artists, songwriters,
and producers to manage, develop, promote and market their
copyrights globally.

Kobalt Music Group

Kobalt Music Group is one of the leading independent rights management
and publishing companies in the US and has offices worldwide. It
represents more than 8,000 artists and songwriters, 600,000 songs, and
500 publishing companies. The company offers various services to its
clients including global licensing management, royalty collection, and
processing; works and rights distribution; online data and royalty
statements; creative services; sync and brand partnerships; record
release management; and marketing.

Sony/ATV Music Publishing

Sony/ATV Music is one of the largest music publishing companies in the
world with more than 2 million songs under management. The company
focuses on increasing its music catalog by adding new artists to its
portfolio. In November 2015, the company received a multi-year licensing
agreement from Pandora, one of the world’s leading music discovery
platforms. This agreement helps the company and its artists to reach
more audience with their music on Pandora's streaming services.

Universal Music Group

Universal Music Group is engaged in music recordings, publishing,
merchandising, and offers audiovisual content in more than 60 countries.
It identifies and develops recording artists and songwriters. Universal
Music Group is home to the most iconic and influential labels and brands
in music including Virgin Records, Republic Records, Universal Music
Enterprises, EMI Records, and Island Records. The company also owns
Universal Music Publishing Group, one of the top music publishing
companies in the world.

Warner Music Group

Warner Music Group is a recording company that has operations in more
than 50 countries around the world. Some of the major recording labels
of the company include Warner Bros. Records, Parlophone Records, and
Atlantic Records. In December 2015, the company received a multi-year
licensing agreement with Pandora, one of the leading music discovery
platforms in the world.

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About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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at media@technavio.com.